For imparting knowledge about the importance of data analysis from multiple sources and its significance in devising sales and marketing strategies in the pharma industry, nMore in association with Pharmaceutical Export Promotion Council of India (Pharmexcil) is organising a workshop on ‘Sales and Marketing analytics for pharma industry’ on December 28 & 29 in Hyderabad.

The two day programme is mainly aimed at providing training and imparting knowledge about the importance of data analysis from multiple sources and its significance in devising sales and marketing strategies in the pharma industry.

Giving his opinion on importance of data analysis and its application in businesses Prof. Uday Bhat from nMore said, “Sales and Marketing analytics is a part of the decision making process and strengthens the organization's ability to devise better strategies and realize unforeseen benefits. In the present scenario of fierce competition among the businesses it is very much important for the pharma professionals to learn to handle the huge amount of data, make sense out of it and present the results in a clear and concise form and thereby complement the decision support system and improve effectiveness of resources.”

Availability of data from multiple sources and the ease of replication have caused a virtual explosion of data within and without all businesses. The pharma sector is no exception. Various commercial statistical software packages such as SPSS, SAS, Minitab, Systat and a lot many other free software packages have simplified the data processing part. However, knowing what to look for in the haystack of data, digging further into the data to discover nuggets of knowledge and interpreting the output (results of data processing) are highly important areas which are more often than not ignored.

The workshop is also expected to focus on challenges faced by pharma sales executives and the dynamics of the market environment. The programme will focus on topics like meetings of sales force with doctors, sudden actions of competitors, analysis of ground level real time data, price changes, automation of sales force, patients shift to generic drugs, etc. The workshop will try to address these issues and strengthen analytic skills of the pharma professionals to meet the challenges more effectively.

As analysis of data from multiple sources plays a vital role in taking significant decisions especially with regard to sales and marketing and also relating to research and development in the pharma industry, the workshop will be a great help to the pharma professionals who wish to develop a career especially in the sales and marketing segments.